JPMorgan to spend $250 million to close the skills gap

The initiative is aimed at
addressing the "skills gap" that exists across industries such as
health care and advanced manufacturing.

The program has the backing of
Chicago Mayor Rahm Emanuel, according to this article in The
New York Times. Emanuel has seen the skills gap affect Chicago,
and in response, he started a College to Careers program that pairs local
schools with employers. That program served as a model for the New Skills at
Work program.

JPMorgan Chase plans to commit
$50 million annually to the program, beginning in 2014. It plans to announce
specific grants and partnerships early next year, the Times reported.

In Iowa, officials have already
identified a skills gap and are taking steps to close it with the Skilled
Iowa Initiative, which gives potential middle-skills workers a
chance to test their skills and provides resources for people looking to
improve their skills to work at Iowa businesses.

A 2012 Iowa Workforce Development report
asserted that about 50 percent of Iowa job openings are in the middle-skills
job range.